Hamburg, 22nd March, 2013 - gamigo AG has developed very positively in the past months. gamigo AG's new strategy, to focus more in the future, shows initial great success.
Development halt for Grimlands
The intensified focus on publishing and distribution and reduction of high-risk development projects has been pushed further forward. With this in mind the decision has been made not to proceed with the development of the MMORPG, Grimlands. The game still requires substantial additional funds to be brought to completion. Even other games in the "development pipeline" are to be critically assessed anew according to opportunities and risks.
Things continue to improve for the successful fantasy MMORPG, Fiesta Online. Fiesta continues on an internationalization course shortly after the acquisition of the US license. After the planned launch of an Italian language version marketing will be expanded to Mexico (Spanish language version) and Canada (English and French language version).
The Turkish language version has been discontinued for Last Chaos. The German, Spanish, Italian, and French markets are moving evermore into focus.
Acquisition candidates searched for in the MMO market
A Family and Friends programme has been issued to finance further, especially inorganic, growth as well as to strengthen the structure of the balance sheet. gamigo AG continues to actively search the MMOG market for acquisition candidates.
About gamigo AG
gamigo AG is one of the leading Free-to-Play Massively Multiplayer Online Games (MMOG) publishers in Europe with subsidiaries in the USA and Korea. gamigo AG concentrates on the publishing and distribution of strong browser-based games as well as client MMORPGs such as Fiesta Online and Last Chaos. gamigo AG has a team of ca. 100 employees. gamigo AG is focusing on expansion driven by organic and acquisition growth. At the beginning of 2013 assets were taken over from Outspark and since then the company has strengthened its North American presence.
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